Advertisement
U.S. markets open in 2 hours 50 minutes
  • S&P Futures

    5,206.50
    -8.25 (-0.16%)
     
  • Dow Futures

    39,196.00
    -27.00 (-0.07%)
     
  • Nasdaq Futures

    18,187.50
    -44.00 (-0.24%)
     
  • Russell 2000 Futures

    2,046.70
    -3.10 (-0.15%)
     
  • Crude Oil

    82.43
    -0.29 (-0.35%)
     
  • Gold

    2,157.80
    -6.50 (-0.30%)
     
  • Silver

    25.11
    -0.15 (-0.59%)
     
  • EUR/USD

    1.0847
    -0.0029 (-0.27%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Vix

    14.60
    +0.27 (+1.88%)
     
  • GBP/USD

    1.2682
    -0.0047 (-0.37%)
     
  • USD/JPY

    150.5180
    +1.4200 (+0.95%)
     
  • Bitcoin USD

    63,219.36
    -4,735.50 (-6.97%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,717.65
    -4.90 (-0.06%)
     
  • Nikkei 225

    40,003.60
    +263.20 (+0.66%)
     

Sudden collapse of Alitalia would be a shock to Italy's economy-minister

Alitalia's flight attendant is seen at the Leonardo da Vinci-Fiumicino Airport in Rome, Italy, April 28, 2017. REUTERS/Tony Gentile

ROME (Reuters) - A sudden collapse of loss-making national airline Alitalia [CAITLA.UL] would be a great shock for Italy's economy, Industry Minister Carlo Calenda said on Sunday.

Rome has thrown the crisis-hit airline a short-term lifeline, a bridging loan of up to 400 million euros ($436 million) to see it through a process whereby an administrator will decide if it can be sold as a going concern or should be liquidated.

"It (sudden closure) would be a shock for GDP (economic output) much greater than the scenario that we are looking at: a brief period of six months covered by a bridging loan from the government so as to find a buyer who could provide services that Italians need as travelers," he said in an interview with Sky TG24 television.

Rival airlines have shown little interest in buying Alitalia and creditors have refused to lend more money after workers last Monday rejected a rescue plan that would have reduced pay and cut 1,700 jobs.

(Reporting By Philip Pullella; Editing by Greg Mahlich)

Advertisement